GM has been advertising employee pricing at times during the past several months. They’ll have a new gimmick now. Owner pricing. Yup, the general public will get to buy at corporate owner prices.
That’s because you and I and our fellow taxpayers in the general public will be owners of 50% of General Motors if the package they put on the table this morning is adopted. Congratulations. I want my share to be in the Corvette division.
The United Auto Workers get 39%; bondholders 10%, and current stockholders the remaining 1%.
Oh, and 2,641 dealers disappear.
The National Automotive Dealers Association “estimates that if 2,641 dealerships are closed in 18 months, 124,200 employees will lose their jobs.”